Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition (Tables)

v3.20.2
Revenue Recognition (Tables)
9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Disaggregated by Revenue Sources

The following table presents the Company’s revenues disaggregated by revenue source for the three- and nine-months ended September 30, 2019 and 2020:

 

   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
    2019     2020     2019     2020  
Products   $ 11,062     $ 10,914     $ 28,954     $ 33,516  
Services     5,822       16,688       17,815       50,650  
    $ 16,884     $ 27,602     $ 46,769     $ 84,166  
Schedule of Deferred Revenue

The balances of contract assets, and contract liabilities from contracts with customers are as follows as of December 31, 2019 and September 30, 2020:

 

    December 31, 2019     September 30, 2020  
              (Unaudited)  
                 
Assets:                
Deferred contract costs   $ 2,196     $ 1,967  
Deferred costs   $ 8,530     $ 6,122  
                 
Liabilities:                
Contract liabilities (1)   $ 1,098     $ 908  
Deferred revenue - services (1)     5,299       6,354  
Deferred revenue - products (1)     10,932       7,734  
                 
      17,329       14,996  
Less: Deferred revenue and contract liabilities - Current portion     (8,536 )     (8,089 )
                 
Deferred revenue and contract liabilities - less current portion   $ 8,793     $ 6,907  

 

(1) The Company records deferred revenues when cash payments are received or due in advance of the Company’s performance. For the three- and nine-month periods ended September 30, 2019 and 2020, the Company recognized revenue of $3,306 and $9,544, respectively, and $2,381 and $6,981, respectively, that was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue these deferred revenue balances before the year 2025, when the services are performed and, therefore, satisfies its performance obligation to the customers.